P-xylene JV scrapped

3:22 PM MDT | April 15, 2013

Teijin, Showa Shell, and Mitsubishi Corp. have dissolved their para- xylene ( p -xylene) production and marketing joint venture TS Aromatics. Sources at Teijin tell CW the jv agreement had been due for renewal at the end of March and that the partners decided not to renew. Teijin, a producer of polyester fiber that requires p- xylene feedstock, continues to operate the business alone. The jv was owned 50.1% by Teijin, 44.9% by Showa Shell, and 5% by Mitsubishi and operated a plant at Matsuyama, Japan, with capacity for about 300,000 m.t./year of p -xylene. It...